First Southern Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by First Southern Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 458310 | Other | 8 | $40.0M | $5.0M | 11.1% |
| 623311 | Continuing Care Retirement Communities | 8 | $13.3M | $1.7M | 11.1% |
| 812210 | Funeral Homes and Funeral Services | 8 | $1.7M | $215K | 11.1% |
| 322299 | All Other Converted Paper Product Manufacturing | 8 | $16.5M | $2.1M | 11.1% |
| 332322 | Sheet Metal Work Manufacturing | 8 | $6.6M | $820K | 11.1% |
| 493110 | General Warehousing and Storage | 8 | $8.0M | $1.0M | 11.1% |
| 115310 | Support Activities for Forestry | 8 | $4.3M | $533K | 11.1% |
| 111334 | Berry (except Strawberry) Farming | 8 | $40.0M | $5.0M | 11.1% |
| 721110 | Hotels (except Casino Hotels) and Motels | 8 | $19.2M | $2.4M | 11.1% |
Geographic Distribution
SBA lending activity for First Southern Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Georgia (GA) | 56 | $139.8M | 77.8% |
| Florida (FL) | 8 | $8.0M | 11.1% |
| Illinois (IL) | 8 | $1.7M | 11.1% |
Why Choose First Southern Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 72 SBA loans approved, totaling $149.5M in financing
- ✓Industry Expertise: Specialized focus on Other, Continuing Care Retirement Communities, Funeral Homes and Funeral Services
- ✓Competitive Terms: Average interest rate of 7.25% with flexible term lengths averaging 229 months
- ✓Loan Range: Loan sizes from $215K to $5.0M, with an average of $2.1M
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in GA, FL, IL
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about First Southern Bank SBA lending
What types of businesses does First Southern Bank typically finance?
First Southern Bank specializes in SBA 7(a) lending to specific industries including other, continuing care retirement communities, funeral homes and funeral services, all other converted paper product manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Southern Bank's typical SBA loan terms?
First Southern Bank's SBA 7(a) loans typically feature an average interest rate of 7.25% and average term length of 229 months (approximately 19 years). Loan sizes range from $215K to $5.0M, with an average loan size of $2.1M.
Do I need a business valuation for a First Southern Bank SBA loan?
Yes, First Southern Bank typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does First Southern Bank compare to other SBA lenders?
First Southern Bank has originated 72 SBA loans totaling $149.5M since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does First Southern Bank lend in?
First Southern Bank provides SBA 7(a) financing with particularly strong presence in GA, FL, IL. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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